Raw Land Developement

[Tony Gunter]

I have a question for the BP family.

Apart from comps does anyone know more about how to evaluate the price/value from taking raw land to a buildable site?

Specifically, 5-10 ac tracts, not lots, and improving them aesthetically, put in an all weather road to the primo home site, bring water to the homesite, power to the home site, etc. Then market and sell it as a “Ready to Build” estate property. These are in the outer growing edge areas of a major metro.

I don’t see these being done. No comps like this that I’ve noticed. How would this be valued?

I’m a licensed GC, so getting raw land to the improved state wouldn’t be a problem.